India, April 17 -- Fintech unicorn Razorpay has converted into a public company, a crucial step in preparation for its initial public offering (IPO).

As per its regulatory filing, the startup got the approval of its members at an extraordinary general meeting held on March 27 to change its name to 'Razorpay Public Limited' from 'Razorpay Software Private Limited'.

While the startup has no immediate plans for IPO, the conversion is a step in preparation for it.

"As part of our redomiciling to India, we're initiating the process to become a public company well before our IPO in approximately two years, in order to align with best governance practices and build early readiness," Razorpay told Inc42 in a statement.

The development was fir...